REGISTERED NUMBER: 03041630 (England and Wales)

CASE CONCEPTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Case

R A Case

J Egan-Case

REGISTERED OFFICE:

Unit 16

South Cornelly Trading Estate

Porthcawl

South Cornelly

Bridgend

CF33 4RE

REGISTERED NUMBER:

03041630 (England and Wales)

AUDITORS:

Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Tangible assets

4

497,702

512,262

Investments

5

1,028,019

1,161,094

1,525,721

1,673,356

CURRENT ASSETS

Debtors

6

704,378

15,956

Cash at bank

391

480,394

704,769

496,350

CREDITORS

Amounts falling due within one year

7

94,173

97,346

NET CURRENT ASSETS

610,596

399,004

TOTAL ASSETS LESS CURRENT LIABILITIES

2,136,317

2,072,360

CREDITORS

Amounts falling due after more than one year

8

609,505

609,505

NET ASSETS

1,526,812

1,462,855

CAPITAL AND RESERVES

Called up share capital

2,624

2,624

Retained earnings

1,524,188

1,460,231

1,526,812

1,462,855

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

R Case - Director

1.	STATUTORY INFORMATION

Case Concepts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Land and buildings - 2% straight line

Plant and machinery - 20% straight line

Investment Property

Investment Property - Leased to Group Companies

Investment property is measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is shown as most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income.

Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal.

In accordance with Section 16.4A of FRS 102 investment properties leased to group entities are exempt from the fair value model and are instead measured using the cost model. Therefore intragroup properties are carried at cost less accumulated depreciation and impairment, with no periodic revaluation required.

Investment Property - Leased to third parties

Investment property is initially measured at cost, including directly attributable costs such as legal fees, stamp duty, and professional valuations at acquisition. Subsequently, the property is carried at cost less accumulated depreciation and impairment losses.

Depreciation is charged on a straight-line basis over the estimated useful economic life of the property. The useful life is reviewed annually and adjusted if necessary. Land is not depreciated.

At each reporting date, the company assesses whether there is any indication that the investment property may be impaired. If such indication exists, the recoverable amount is estimated and any impairment loss is recognised in profit or loss.

Deferred tax is recognised on timing differences arising from the depreciation of investment property. The deferred tax is calculated using rates and laws that have been enacted or substantively enacted by the reporting date.

Departure from Fair Value Model

This policy represents a departure from the fair value model typically applied to investment property under Section 16 of FRS 102. The company has determined that the fair value of the property cannot be measured reliably without undue cost or effort due to the area where the property exists and would be unreliable, and has elected to apply the cost model for consistency and simplicity in financial reporting.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Group

Investment

Properties

Properties

Totals

£

£

£

COST

At 1 November 2023

and 31 October 2024

583,000

145,000

728,000

DEPRECIATION

At 1 November 2023

173,340

42,398

215,738

Charge for year

11,660

2,900

14,560

At 31 October 2024

185,000

45,298

230,298

NET BOOK VALUE

At 31 October 2024

398,000

99,702

497,702

At 31 October 2023

409,660

102,602

512,262

The carrying value of the investment property is considered, by the directors, to be it's fair value and no independent valuation has been sought due to it's insignificant value.

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 November 2023

2,019

1,159,075

1,161,094

Disposals

-

(133,075

)

(133,075

)

At 31 October 2024

2,019

1,026,000

1,028,019

NET BOOK VALUE

At 31 October 2024

2,019

1,026,000

1,028,019

At 31 October 2023

2,019

1,159,075

1,161,094

The company holds 20% or more of the share capital of the following companies:

Company

Shares Held Class

%

Capital and Reserves

Profit/ (loss for the year

)

Plainscoop Limited

Ordinary

100

12,845

-

Enfour Limited

Ordinary

95

711,510

29,380

Countgrade Limited

Ordinary

95

(572,919

)

(361,728

)

Western Leisure & Amusements Limited

Ordinary

95

1,138,783

-

The registered office of all subsidiaries is the same as the registered office of the company.

Other Investments

2024

2023

£

£

Investment in Partnership

1,026,000

1,159,075

The company is in partnership with Mrs Case, R P Case, R A Case and J Egan-Case. At 31 October 2024, the company's investment amounted to £1,026,000 (2023: £1,159,075). During the year the partnership generated profits of £328,954 of which the company's share amounted to £50,000 (2023:£52,337). The company and the other partners are jointly and severally liable for the liabilities of the partnership. At 31 October 2024 the partnership had net assets of £4,665,630.

On 31 January 2025, Case Amusements Partnership (now Case Amusements Limited) was incorporated and the Company received 326,000 Ordinary shares of £1 each.

The shareholding represented 38% of the share capital of Case Amusements Limited. The

estimate value of this investment, at incorporation, amounted to £1,680,000.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

690,264

7,813

Other debtors

14,114

8,143

704,378

15,956

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

94,173

97,346

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

609,505

609,505

All creditors falling due after more than one year are unsecured, interest free and have no fixed term for repayment, other than the amounts are not due for repayment without 12 months notice.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Henry Lloyd Davies (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP

10.	CONTINGENT LIABILITIES

The company, which is a subsidiary company of Case Concepts Limited, has provided cross guarantees in respect of other group companies bank borrowings. At 31 October 2024 the group bank borrowings amounted to £62,573 (2023:£219,344). The group's bank borrowings are guaranteed by various of the directors and are secured by fixed and floating charges over the properties of the group.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions with Case Amusements Partnership are disclosed in note 5.

During the year, the company charged rent of £19,500 (2023: £19,500) to Countgrade Limited.

The balances due to or from subsidiary companies, not owned 100%, are as follows:

2024

2023

£

£

Enfour Limited

(221,746

)

(221,746

)

Countgrade Limited

690,264

7,813

Western Leisure & Amusements Limited

(24,613

)

(24,613

)

12.	EVENTS AFTER THE REPORTING DATE

Subsequent to the reporting date of 31 October 2024, the partnership in which the company holds an investment was incorporated as a separate legal entity. This event classified as a non-adjusting event under Section 32 of FRS 102 - Events After the End of the Reporting Period, as it does not provide evidence of conditions that existed at the balance sheet date. Therefore, no adjustments have been made to the financial statements as at 31 October 2024.

13.	ULTIMATE CONTROLLING PARTY

No party has a controlling interest in the shares of the company.